Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 579,766 shares of the real estate investment trust's stock after selling 26,710 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.18% of Simon Property Group worth $97,992,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Alpha Cubed Investments LLC boosted its position in shares of Simon Property Group by 21.6% during the 2nd quarter. Alpha Cubed Investments LLC now owns 3,945 shares of the real estate investment trust's stock valued at $599,000 after acquiring an additional 700 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Simon Property Group by 51.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,209 shares of the real estate investment trust's stock valued at $943,000 after acquiring an additional 2,119 shares during the last quarter. Wedmont Private Capital boosted its position in shares of Simon Property Group by 5.4% during the 2nd quarter. Wedmont Private Capital now owns 6,150 shares of the real estate investment trust's stock valued at $919,000 after acquiring an additional 315 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Simon Property Group by 11.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust's stock valued at $5,169,000 after acquiring an additional 3,626 shares during the last quarter. Finally, ORG Partners LLC acquired a new position in shares of Simon Property Group during the 2nd quarter valued at about $436,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Trading Up 0.1 %

NYSE:SPG traded up $0.16 on Monday, reaching $181.90. 946,672 shares of the company's stock were exchanged, compared to its average volume of 1,440,924. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a market capitalization of $59.35 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 10.75 and a beta of 1.75. The business has a fifty day moving average of $175.66 and a 200-day moving average of $162.66. Simon Property Group, Inc. has a 52-week low of $132.24 and a 52-week high of $186.00.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the previous year, the company posted $3.20 earnings per share. The firm's quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts expect that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.62%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. Simon Property Group's dividend payout ratio is presently 109.19%.

Analysts Set New Price Targets

SPG has been the topic of a number of recent analyst reports. Mizuho upped their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Stifel Nicolaus reaffirmed a "hold" rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. Piper Sandler reaffirmed a "neutral" rating and issued a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Finally, Evercore ISI raised shares of Simon Property Group from an "in-line" rating to an "outperform" rating and upped their target price for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Simon Property Group presently has a consensus rating of "Hold" and an average price target of $165.44.

Insider Buying and Selling

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the acquisition, the director now directly owns 34,301 shares of the company's stock, valued at $5,738,557.30. This trade represents a 1.09 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.60% of the company's stock.

Simon Property Group Company Profile

Simon Property Group, Inc NYSE: SPG is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.